BBC Denies Peston Bailout Rumours

Senior sources at the BBC moved quickly today to scotch rumours that Business Editor Robert Peston is in need of a bailout. "There are no suggetions of Robert needing an 'additional line of credit' as has been claimed by some commentators", said senior managing controller, Roger Lewis. However, critics have pointed out Peston's growing travel schedule following economic summits in Davos, Camp David, Japan, Canada, Brazil as well as 'fact finding' misssions to China, India and Australia over the last 18 months as evidence of his out of control spending habits. Sources close to BBC Chief Mark Thompson are also said to be concerned about Peston's high debt to liquidity ratio and his over dependence on other journalists to 'sub him until his expenses come through.' Colleague Hugh Pym has reputedly invested heavily in Peston and now doubts whether he will get his money back.
"Clearly, Robert has got over excited about the financial crises and over committed his resources," said Mr Lewis, "But this does not mean he needs a bailout."
However, the BBC's own Panorama programme will claim later this month that Peston's expenses now threaten the whole of the BBC. It's thought that undercover footage of his expenses claim will reveal the 'financial black hole' faced by the BBC is much larger than originally estimated. Mr Lewis said, "We do not deny that Robert Peston's exorbitant financial demands could damage the reputation of the BBC, but at the moment the deficit is only about three times the budget for BBC3. So, if we can do without the 16-24 demograpic for about six months, that should help."
Mr Peston was unavailable for comment as he was covering the IMF emergency meeting in Tahiti.